HomeMy WebLinkAboutReso 105-1977WJML: JLO: pn 7/13/77/12c
RESOLUTION NO. ~o5-77
A RESOLUTION CALLING FOR BIDS FOR BONDS, APPROVING
· NOTICE OF SALE AND OFFICIAL STATEMENT AND AUTHORIZ-
ING AND DIRECTING CERTAIN ACTIONS WITH RESPECT
THERETO
CITY OF SOUTH SAN FRANCISCO
$1,100,000 SEWER REVENUE BONDS OF 19 77
RESOLVED, by the City Council of the City of South San
Francisco, San Mateo County, California, that
WHEREAS, the Clerk of said City is hereby directed to call
for bids for the sale of revenue bonds to be issued pursuant to
Ordinance No. 736-77, "An Ordinance Authorizing the Issuance of
Sewer Revenue Bonds, $1,100,000 Sewer Revenue Bonds of 1977,"
incorporating by reference Resolution No. 84-77, "A Resolution
Providing .Procedures for the Issuance of Sewer Revenue Bonds
Authorized by Ordinance, Fixing the Form of the Bonds and Providing
Covenants for Their Protection," both of which were adopted by
this Council on June 15, 1977, said resolution having been subse-
quently amended by Resolution No. 104 -77, adopted by this Council
on July 20, 1977';
WHEREAS, pursuant to this Council's authorization, the City's
Bond Counsel has prepared and presented to this Council a Notice
of Sale and Official Statement containing information material to
the offering and sale of the revenue bonds; and
WHEREAS, this Council, with the aid of its staff, has
reviewed the Notice of Sale and Official Statement, has made
corrections and additions thereto as it deems proper and has
determined that the facts therein set forth are true and correct
in all material respects and that the Notice of Sale and Official
Statement contains no untrue statement of a material fact or omits
to state a material fact required to be stated where necessary to
make a statement not misleading in light of the circumstances
under which it was made;
NOW, THEREFORE, IT IS ORDERED, as follows:
1. The Notice of Sale and Official Statement is approved
for distribution in the offering and sale of the above described
$1,100,000 Sewer Revenue Bonds of 1977.
2. The City Clerk is authorized and directed to execute the
Notice of Sale and Official Statement on behalf of this City and
this Council and to call for bids for the sale of the bonds, such
bids to be received August 3, 1977.
3. The City Clerk is also authorized, in exeCuting the
Notice of Sale and Official Statement, to approve further corrections
and additions therein by supplement or amendment thereto, or other-
wise as appropriate, provided that any such corrections or additions
shall be necessary to cause the information contained therein to
conform with facts material to the bonds or to the proceedings of
this Council or such corrections or additions are in form rather
than in substance.
4. The City's Bond Counsel, on behalf of the City and
its Clerk, is authorized and directed to cause the Notice of Sale
and Official Statement, and any amendment or supplement thereto,
[[II I1 ~liill ][['1~1
to be distributed to such municipal bond broker-dealers, to such
banking institutions and to such other persons as may be interested
in purchasing the bonds therein offered for sale.
5. The City Clerk or any appropriate member of the City
staff is authorized and directed to execute and to cause to be
delivered to the purchaser of the bonds a statement that, to the
signator's best knowledge and belief, the facts contained in the
Notice of Sale and Official Statement, and any supplement or amend-
ment thereto (which shall be deemed an original part thereof for
purposes of such statement) were, at the time of award of the bonds,
and are, as of the date of delivery of the bonds, true and correct
in all material respects and that the Notice of Sale and Official
Statement did not, at the date of award of the bonds, and does not,
as of the date of delivery of the bonds, contain any untrue state-
ment of a material fact or omit to state material facts required
to be stated, where necessary to make a statement not misleading
in light of the circumstances under which it was made. The signa-
tor shall, with the aid of the staff of the City, take such further
actions prior to the signing of the statement as are deemed neces-
sary or appropriate to verify the accuracy of the statement.
6. The City will furnish the legal opinion of the law firm
of Wilson, Jones, Morton & Lynch, San Mateo, California, unquali-
fiedly approving the legality of the proceedings and the issuance
of the bonds.
Iltl '11llll[']l
I hereby certify that the foregoing resolution was
regularly introduced and adopted by the City Council of the
City of South San Francisco at a regular meeting held this
20th day of gu2~ , 19 77, by the following vote:
AYES,
NOES,
ABSENT,
COUNCILMEMBERS
COUNCILMEMBERS
COUNCILMEMBERS
Richard A. Battaglia, William A. Borba, Emanue?e
N. Damonte, Terry J. Mirri and Leo Padreddii
None
None
ATTEST:
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